HomeMy WebLinkAboutResolution 3524-09-2007A Resolution
NO 3524-09-2007
SUPPORTING THE CREATION OF A NATIONAL AFFORDABLE HOUSING TRUST FUND
WHEREAS, safe decent, quality affordable housing is among the basic human
needs and also provides families and neighborhoods with a sense of stability and
WHEREAS, one of the goals of the City Council of the City of Fort Worth as
embodied in the City s Comprehensive and Consolidated Plans is to promote and foster
public private partnerships in developing and preserving quality affordable housing for
the citizens of Fort Worth a measure which would also add to the City s tax base and
WHEREAS to achieve this goal a Mayor s Task Force on Quality Affordable
Housing hereinafter referred to as the Housing Task Force was created in November
2006 composed of housing industry representative and other stakeholders and charged
specifically with providing the City Council with recommendations on the creation of a
Fort Worth Housing Trust Fund to fund quality affordable housing and
WHEREAS on August 14 2007 the City Council took a giant step by adopting the
Housing Task Force s recommendations on the creation of the Fort Worth Housing Trust
Fund (M&C G 15811) and by appropriating a total of $8 4 million for the Fort Worth
Housing Trust Fund $4 million for the corpus and $4 4 million for the first year s
funding including $2 million from the General Fund and
WHEREAS the City Council acknowledges that the approval of the $8 4 million
Fort Worth Housing Trust Fund is dust a dent in meeting the quality affordable housing
needs identified by the Housing Task Force at $1 8 billion and that a collaborative effort
from all levels of government -federal state county and city -and the private sector is
imperative to achieve its housing goals and
WHEREAS at the state level in May 2007 the 80th Texas Legislature doubled the
funds in the State Housing Trust Fund, the only general revenue the state invests in
affordable housing by increasing its budget by $5 million over the biennium an
acknowledgment of the need for additional affordable housing in the state and
WHEREAS at the federal level on July 31 2007 the U S House of
Representatives Financial Services Committee in a momentous event, approved
legislation (H R. 2895) to establish a National Affordable Housing Trust Fund - a concept
first proposed in the U S Congress in 2001 and
WHEREAS the National Affordable Housing Trust Fund would constitute a
dedicated federal fund not to supplant existing appropriations to build preserve and
rehabilitate affordable housing and
WHEREAS the Fort Worth Housing Trust Fund substantially qualifies for required
matches under the proposed National Affordable Housing Trust Fund (the National
Affordable Housing Trust fund provides $2 for every $1 of local funds) which means
increased leveraging of local funds and increased affordable housing development and
revitalization for Fort Worth and
WHEREAS 5 600 national state and local organizations from around the country
are advocating for the creation of a National Housing Trust Fund and are giving their
support for H R. 2895
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
That the City of Fort Worth does hereby express its support for the creation of a
National Affordable Housing Trust Fund by endorsing H R. 2895 and
That a copy of this resolution be provided to the Texas Congressional delegation
Adopted this __ 11th __ day of September 2007
ATTEST
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"' '' Marty Hendrtx;'Ctty Secretary
~-~ ~~~ APPROVED
.,~,,,;,~.,,, CITY COUNCIL
SEP 1 1 2007
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City Secretary of the
City of Fort Worth, Texas